Newmark has been exclusively retained to sell 817 Merrimack Street in Lowell, Massachusetts, a two-story medical office building directly across the street from the UMass Lowell East Campus. The building’s prime location at the heart of a vibrant academic, business and student-driven area offers future ownership the opportunity to pursue a medical, office, retail, or mixed-use repositioning of the asset, all of which are allowed under the existing INST zoning.
Residential uses are inconsistent with the UMass Building Authority’s (UMBA) purchase and UMass Lowell’s (UML) ongoing campus operations. Therefore, any interest for residential uses will not be considered at this time. Further, UMBA and UML are leading a transformative redevelopment of a portion of East Campus known as LINC. Interested parties are encouraged to define how their reuse of the property will support the adjacent campus uses and initiatives, including LINC.
The asset is being offered without a formal asking price, free and clear
of debt.